Business news from Ukraine

Ukraine to receive EUR 100 mln loan for eRecovery project

27 March , 2024  

Ukraine will receive a EUR100 million loan from the Council of Europe Development Bank for the eRecovery project, said Oleksandr Kubrakov, Deputy Prime Minister for Reconstruction of Ukraine and Minister of Community Development, Territories and Infrastructure.

“Plus EUR 100 million in compensation for destroyed housing from the Council of Europe Development Bank. The relevant decision was made by the Bank’s Administrative Board, and negotiations are underway to sign a Framework Loan Agreement. This amount will be enough to receive more than 2,000 housing certificates for Ukrainians whose homes were destroyed as a result of Russian military aggression,” he wrote on Facebook.

As reported, the Administrative Board of the Council of Europe Development Bank (EBRD) approved the project “NOME. Compensation for Destroyed Property” at a meeting on March 25-26, under which it provided Ukraine with EUR 100 million.

The eRestoration program was launched in Ukraine on May 10, 2023, and owners of damaged housing began receiving compensation of up to UAH 200,000 for repairs. These funds can be used to purchase building materials, pay for construction work and services of contractors who have the appropriate codes to work and whose vendors have applied for participation in the program through the Diia portal. In December, payments for major repairs of damaged residential property were launched – up to a maximum of UAH 350 thousand for an apartment and UAH 500 thousand for a private house. Starting January 1, 2024, Ukrainians who have repaired their homes at their own expense will be eligible to receive compensation for damaged housing.

On August 1, 2023, Diia started accepting applications for compensation for housing destroyed by the war. Compensation will be paid to individual owners of housing that was destroyed due to hostilities after February 24, 2022, cannot be restored and is located in the unoccupied territory and not in the area of active hostilities.

On December 27, 2023, Diia started issuing housing certificates. Since the launch of the state compensation program, more than 11,000 applications have been submitted, and since January, 1637 Ukrainian families have already purchased new homes for a total of UAH 3.4 billion.

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